Hong Kong's stock market can be traced back to 1891.
With the establishment of the Hong Kong Stockbrokers Association (later the Hong Kong Stock Exchange).
It announced the end of the previous era of private and unregulated stock trading.
After the end of World War II, the world economy recovered.
The Hong Kong River is an important maritime transport route connecting island countries, Southeast Asia, Oceania and the American countries along the Pacific coast.
It has become a transit point for goods from many countries.
This unique geographical advantage has not only enabled Hong Kong's economy to take off, but also enabled the stock market to develop rapidly.
In the late 1950s, Hong Kong's industry experienced great development, which also led to the booming real estate industry and brought the stock market to a climax.
As the saying goes, everything that goes up must come down, and the bear market lasted until 1965.
Due to the booming real estate market, many banks lent large amounts of money to real estate developers.
He even invested all his money in real estate, but ended up with bitter consequences.
Mingde Bank is one of the typical examples.
When the real estate market was booming, he used depositors' savings to buy large amounts of land.
This caused a crisis of distrust among depositors, and the bank collapsed amid a bank run, pouring cold water on the booming stock market.
By 1969, Hong Kong's stock market faced new difficulties.
Because the Hong Kong Stock Exchange is an exchange that is completely controlled by the West.
The listing conditions are very strict, and the listing applications of larger Chinese companies are extremely difficult, which has caused dissatisfaction among all Chinese entrepreneurs.
At this time, the first stock exchange founded by Chinese was born.
The Far East Exchange founded by Li Fuzhao impressed all Chinese people and made Hong Kong's stock market more diversified.
Then in 1971, Hu Wenhui, a professional journalist, founded the Gold and Silver Stock Exchange.
The Kowloon Stock Exchange opened for business in 1972, and now there are four securities exchanges competing in the Hong Kong securities industry.
The emergence of Sihui has both advantages and disadvantages. The advantage is that it allows a large number of high-quality Chinese companies that were rejected by the Hong Kong Stock Exchange to be listed, thus making the stock market more prosperous.
The downside is that some companies of mixed quality and those that are not what they claim to be have gone public to raise funds, which has sown the seeds of bitter consequences for the Hong Kong stock market.
In 1973, some criminals forged fake stocks, which eventually triggered a crisis. The stock market plummeted and countless investors suffered heavy losses.
After this incident, the Hong Kong government realized the seriousness of the problem and continued to strengthen its control over the securities industry and introduced a series of securities laws.
After much research, the Hong Kong United Exchange Limited was finally established on July 7, 1980.
The formal merger of Hong Kong's four stock exchanges will have to wait another six years.
In the future, the Hong Kong Stock Exchange will be the only exchange in the Hong Kong securities market.
The significance of the establishment of the Hong Kong Stock Exchange is to provide a fair and orderly market for all securities investors.
Give all investors equal opportunities to obtain information and engage in securities investment activities.
However, everyone involved in securities investment knows that this statement is completely nonsense.
How is it possible to have equal opportunities to obtain information? How can retail investors’ sources of information compare to those of large institutions?
Being able to avoid becoming a leek in the eyes of the banker is a blessing in disguise.
So there is a widely circulated saying that the stock market is risky and you should be cautious when entering the market.
This sentence has the same effect as the slogan on cigarette packaging: Smoking is harmful to your health.
But none of them can stop the greed and desire in people's hearts.
At two o'clock in the afternoon, in a large trading room of the Kowloon Stock Exchange.
"Mr. Mo! This is Mr. Li Hanliang, an outstanding stockbroker in the Securities Department of Hang Seng Bank. He has many impressive achievements. He once helped a client earn HK$500,000 with a capital of HK$100,000. He is a rare talent."
Hang Seng Bank's relationship manager Liu Zhi looked enthusiastic.
If you can introduce a big client to the securities department this time, you will also receive an introduction fee.
Although it’s not much, only one month’s salary, but even a small amount is still meat!
"Mr. Mo! Nice to meet you. As long as you put your money with me, I can definitely make a profit for you. Even doubling it is not impossible."
Li Hanliang was dressed in a suit and tie, his face full of pride.
I feel very excited when I think about being able to operate funds of more than one million. If I operate a few more times, the commissions will come in like a lot.
As the saying goes, don't hit a smiling person. Faced with the hand extended by the other party, Mo Zhexuan still raised his hand and shook hands with the other party in a friendly manner.
But in your heart, you have already excluded the other party. Can a person who becomes arrogant and proud after achieving a little success be a qualified stockbroker?
He said that what he needed was someone who could strictly follow orders, but the other party was obviously not one of them. Instead, he treated him as a newbie who knew nothing.
So I politely refused immediately:
"I've heard a lot about Mr. Li's impressive track record. I believe that most investors would be very satisfied to have you as their stockbroker."
Just as Li Hanliang was feeling complacent, he suddenly changed the subject and said:
"But the stockbroker I need is someone who can faithfully carry out my orders, even if he's a novice in the securities trading business. So, my apologies."
"Mr. Mo! If you're planning to enter the securities investment industry, you'll definitely need to find a seasoned broker. I think I'm a good fit, and the stock market isn't as simple as you think."
Li Hanliang's face changed instantly. He originally thought that it was a sure thing, but now the other party didn't even invite him. He could only keep explaining.
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